Pakistan central bank cuts rates by record 250 bp, beating expectations

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KARACHI : Pakistan's central bank cut its key policy rate by a record 250 basis points to 15 per cent on Monday, exceeding expectations, as the country bid to revive a sluggish economy amid a big drop in the rate of inflation.

The finance ministry expects inflation to slow further to 5.5 per cent to 6.5 per cent in November.

October's inflation rate was 7.2 per cent, slightly above expectations.

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Article Details

Category: EconomyBusiness

Markets: SingaporeKuwaitPakistan

Topics: June Bank Rate Year Cent Pakistan (sbp) Expectations Karachi Inflation State

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 21:50:43 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 565 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23397656

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Official Website: channelnewsasia.com

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